Brown Says Fannie Mae Revamp Won’t Become Law This Year
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Senator Sherrod Brown said a comprehensive revamp of the U.S. housing finance system won’t become law this year and called for simpler changes to Fannie Mae and Freddie Mac.
Brown, an Ohio Democrat and a member of the Senate Banking Committee, said a bipartisan bill to replace Fannie Mae and Freddie Mac is too complicated and doesn’t do enough to address too-big-to-fail concerns or provide assistance for affordable housing. The panel will consider the measure on April 29. Fannie Mae and Freddie Mac shares rose.